Korea Consumer Confidence

Korea: Consumer sentiment stable in September

September 27, 2011

In September, the Consumer Sentiment Index (CSI) published by the Bank of Korea remained unchanged at August's 99 points, which marked its lowest level since March this year. With the September print, the index idled below the 100-point threshold that separates optimism from pessimism for a second consecutive month this year, implying subdued prospects for private consumption going forward. In comparison to August's poll, households were less concerned regarding current economic conditions but more worried about their current living standards. In contrast, households' expectations regarding their short-term income improved, which resulted in higher prospects for major purchases compared to August's survey.

Industrial production in the mining, manufacturing, gas and electricity sectors decreased 6.0% in December compared to the same month last year, more than the revised 1.7% decrease in November (previously reported: -1.6% year-on-year).